Glencoe pre-foreclosure, 4 bedrooms, 3 ½ baths under $400K

The 4-bedroom, 3 ½ bath contemporary home at 1010 Skokie Ridge in Glencoe sold for $615,000 in 2002. It's currently listed for sale at $399,900. The listing notes it as a pre-foreclosure "as is" sale with third-party approval required.

Based on the pictures and the listing description it appears to be in reasonable shape. Will the bargain-basement listing price elicit a bidding war and multiple offers?